You finish the season, make your money abroad and, when it reaches home, a chunk has gone missing along the way. Getting paid from abroad as a model has a part almost nobody explains before the first trip: currency conversion eats into what you worked hard to earn, and you can lose a lot less once you know how exchange works.
A season pays in yuan in China, in euros in Europe, in dollars or dirhams in the Gulf. That money has to become your home currency so you can use it, which for a Brazilian model means reais. It's in that jump from one currency to another that the value shrinks, and that's exactly where most people don't pay attention.
The money you earn isn't the money that lands in your account
There's the number in the contract and there's the number that's left. Between the two, there are two bites.
The first is the spread, the difference between the real exchange rate and the rate your bank or service gives you. You barely see it, because it's built into the rate, not listed as a "fee".
The second is taxes and fees: in Brazil, IOF on foreign exchange, the fixed fee on the international transfer, sometimes a fee from the intermediary bank. These ones show up. The spread is the silent one, and it's usually the bigger of the two.
Why getting paid from abroad eats so much of the value
The fair reference for any currency is the mid-market rate, the rate in the middle, the one you see on Google when you search "CNY to BRL". No bank gives you exactly that. They add a margin on top, and that margin is their profit on the operation.
At traditional banks and with wallets like PayPal, that margin usually sits between 3% and 4%, hidden in the rate. On a season worth a few thousand dollars, 3% to 4% adds up to hundreds of reais that vanish without you seeing them go.
Add IOF, Brazil's tax on foreign exchange. IOF rules changed in 2025 and 2026 and vary by type of operation, so the number isn't fixed (see how IOF applies to an international transfer, in Portuguese). The point is simple: once you add up hidden spread, tax and fees, the "easiest" route usually ends up the most expensive.
PayPal looks practical and it's the most expensive
PayPal is convenient, everyone has it, the client sends money fast. That's why a lot of models get paid there and never question it.
The price of that convenience is high. On top of the 3% to 4% margin built into the conversion, PayPal charges a fee to receive international payments, around 3% of the amount. You pay to receive and you pay again to convert. Two tolls on the same trip.
Getting paid fast isn't the same as getting paid well. Money that arrives today and loses 7% in total is worse than money that arrives in two days and loses less than 1%.
Where exchange works in your favor
The shift is swapping the logic of a hidden spread for the logic of a transparent fee. Exchange services that work at the real mid-market rate charge a small, visible fee, under 1% in most cases, instead of inflating the rate.
Even better if you can have a multi-currency account. You get paid in yuan, hold yuan, get paid in euros, hold euros, and convert to your home currency whenever you want, when the rate works best for you. You're no longer forced to convert the moment the money lands, at the worst possible time.
Anyone who understands how much an international model really earns quickly sees that protecting the conversion is worth as much as negotiating the fee. The money you don't lose on exchange is money you earned.
Let it add up before you convert
Every conversion has a cost. If you change currency in small pieces, a little every week, you pay a fee every time.
The cleanest route is to get paid into an account that holds the currency, let it build up, and convert once, when you actually need it. Fewer operations, fewer fees, more control over the day's rate.
If you're still starting out and want to join a roster that thinks about this kind of thing with you, you can introduce yourself to Cosmos.
The basics that protect what you've earned
You don't need to become a finance expert. You need to cover four simple fronts:
- Keep a record of every payment that comes in: amount, currency, date and who it came from. That saves you when it's time to declare and when it's time to chase a payment.
- Know the real rate on the day you convert. Compare it with the one you were offered. The difference is what you're paying.
- Keep your career money separate from your everyday money. Your modeling account is one thing, your spending account is another.
- Check with an accountant how to declare income received from abroad and how much IOF applies in your case. In Brazil, a model who gets paid from abroad has tax obligations, and they change depending on the amount and the operation.
This content is for information only. Fees and tax rates change and vary by service, bank and type of operation, so use the numbers here as a reference, not a fixed rule. For your situation, always check with your agency and, when needed, a specialized accountant or lawyer.
Inside Cosmos
Cosmos works across Asia, Europe and around the world, so handling several currencies is routine for us. What we receive from partner agencies comes in through exchange at the real rate, not the bank's inflated one, precisely so we don't lose value along the way.
When we follow a model through a season, part of the guidance is about this: where to get paid, when to convert, how not to let exchange eat the result. The split between the model, the local agency and the mother agency is already in the contract, and it's worth understanding how the mother agency's commission is paid and how a mother agency works in general before you fly. The money is yours, and we help you think about it before you go.
Open the account before you travel
The worst time to sort out exchange is with your money already stuck in an expensive wallet. Sort it out before. Have a multi-currency account at the real rate ready before you close your first season, and you'll get paid knowing exactly how much is left.
Get paid at the real rate, not the bank's inflated one. Open a Wise account and receive yuan, euros or dollars at the mid-market rate with a transparent fee.
Frequently asked questions
No. You can use a multi-currency account that works from home and receives several currencies at the real rate. You hold the currency and convert to your home currency whenever you want.
You can, but it's usually the most expensive route. The bank converts at its own rate, with a margin on top, and still charges a fee for receiving international payments. It's worth comparing before assuming it's the simplest option.
Yes. In Brazil, income received from abroad has its own tax treatment, and it changes depending on the amount and the type of operation. Keep a record of everything and confirm with an accountant how to declare it in your case.
It depends on the contract and the market. In many seasons the local agency receives the gross and passes on your share with the agreed deductions already taken out. That's why the contract has to be clear about who receives what. See what to expect from your first season in China to understand how payment usually flows.
Dollars and euros are easy to convert anywhere. Yuan has more restrictions and not every service handles it well, so check beforehand that your account can receive and convert yuan without hassle.
